Finance

Check out the companies making headlines after the bell: Fabrinet shares surged more than 6 percent after the bell on the back of stronger-than-expected earnings. The electronics manufacturer posted quarterly earnings per share of 81 cents versus a Reuters estimate of 71 cents. CEO Seamus Grady said the results were driven in part by “strong

Venezuela is doing something completely unprecedented. Some even say illegal. As part of an attempt to stop skyrocketing inflation, the country is issuing a new fiat currency called the “sovereign bolivar,” which will be backed by a cryptocurrency. But that cryptocurrency called the “petro” does not trade, and Venezuela’s own parliament says it’s being illegally

Twitter CEO Jack Dorsey believes he has not been transparent enough about his goals for the company, even as it reviews its policies on disciplining users for violating the platform’s rules. The leader of the social media giant said in an interview that aired on CNN Sunday that the company is “ready to question everything”

Morgan Stanley’s outlook on General Motors shares has dimmed due to the escalating trade war between the U.S. and China. The firm reduced its price target to $46 from $50 for General Motors shares and cut its 2018 earnings per share estimate to $5.60 from $6.31 for the company. General Motors sold 1.8 million cars

It’s a familiar scenario. You forget a password to a website or log in from a new computer, and get locked out of your account. The website or your bank sends a text to confirm it’s you. Most of the time it is. But the person receiving that text could be a hacker. Criminals are

When Lisa Mulhall raised her hand at the recent student debt clinic in Woodbury, New York, she had no idea that she was about to hear something that would change the rest of her life. The fifth-grade teacher, who is carrying around $30,000 in student loans, explained that she’d been told by her servicer that

The U.S. stock market is well on its way to better-than-average gains this year, but a quick glance at overseas markets reveals a more sobering story. Global stock markets are having a tough 2018, beset by a barrage of trade and tariff headlines, softer GDP data from economic powerhouses like China and a more expensive

Shares of Tesla tumbled 6 percent in early trading Friday after a New York Times feature outlined some serious struggles for CEO Elon Musk. The electric carmaker’s stock is down 10 percent over the last year and has been especially pummeled in the last week. Shares are down more than 12 percent since Musk tweeted

Silicon Valley is still finding plenty of reasons, and money, to pour into the cryptocurrency industry. Despite bitcoin slumping by half this year, crypto hedge fund Pantera Capital is well on its way to hitting a $175 million target for its third and largest fund yet. According to a SEC disclosure filed this week, the

The “Fast Money” traders shared their first moves for the market open. Brian Kelly was a buyer of the Utilties ETF Karen Finerman was a buyer of Alibaba David Seaburg was a buyer of Macy’s Dan Nathan was a seller of the Semiconductors ETF Trader disclosure: On August 15, 2018 the following stocks and commodities

Check out the companies making headlines after the bell on Wednesday: Cisco surged more than 6 percent in after-hours trading after the company reported quarterly revenue and earnings that beat Wall Street expectations. Total revenue for the company rose to $12.84 billion, up 6 percent year over year, thanks to a surge in income in

A U.S. investor filed a $224 million lawsuit against AT&T Wednesday accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency. In a 69-page complaint filed with the U.S. District Court in Los Angeles, the plaintiff Michael Terpin claimed that because of “AT&T’s willing cooperation with

Check out the companies making headlines after the bell: Energen surged more than 7 percent in after-hours trading after Diamondback Energy announced it was acquiring the oil and gas company for about $9.2 billion, including debt, or $84.95 per share. The acquisition price represents a 16.1 percent premium to Tuesday’s closing price of $73.14. The

Morgan Stanley is a big believer in the merger between Salesforce and MuleSoft. The firm raised its price target to $178 from $153, a 16 percent increase, for Salesforce shares, predicting a big rise in its sales during the coming years from the deal. In March Salesforce announced an agreement to buy MuleSoft for about

Check out the companies making headlines after the bell: Shares of Vipshop plunged nearly 10 percent after Monday’s close on the back of weaker-than-expected earnings and revenue for the second quarter. The Chinese e-commerce company reported a profit per share of 0.84 renminbi and sales of 20.74 billion renminbi. Analysts polled by Reuters expected Vipshop

Sales at U.S. companies with significant emerging market exposure posted a notably weak financial quarter, according to Goldman Sachs, amid a growing crisis in Turkey as well as ongoing trade and tariff woes in China. Of Goldman’s emerging market stock basket – which includes companies with sales in Brazil, Russia, India and China – only

He didn’t enter the year as a roaring bull, but market veteran Jack Ablin is finding reasons to get more positive on stocks. On CNBC’s “Futures Now” last week, the Cresset Wealth Advisors co-founder and chief investment officer listed five indicators that support the case for new record highs, and a positive year overall for

Travelers who use J.P. Morgan Chase credit cards are about to get a free upgrade. Credit-card customers who redeem rewards through the bank’s web portals will have access to more than double the travel inventory starting Sunday, according to a person with knowledge of the change. The New York-based bank is partnering with the Expedia

J.P. Morgan Chase downgraded Campbell Soup shares to underweight Friday, arguing that the food company will be hard-pressed to attract a buyer should board leadership elect to pursue a sale. While J.P. Morgan’s Ken Goldman agreed with a growing chorus of frustrated shareholders to pressure company leadership into selling, he wrote the path to a

The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Intel Karen Finerman was a buyer of Lowe’s Dan Nathan was a buyer of Twitter Guy Adami was a buyer of Ralph Lauren Trader disclosure: On August 9, 2018 the following stocks and commodities mentioned or intended

Morgan Stanley is telling its clients there might a way to get funding for Elon Musk’s plan to take Tesla private. “A Tesla LBO does not appear to be feasible, in our view, even with less than $10bn of incremental debt. However, if the decision is made to take the company private, an equity buyout

Wall Street rarely talks about its mistakes, but Goldman Sachs is now admitting it was wrong on its pessimistic view for AMD shares. The firm raised its rating to neutral from sell for the chipmaker’s stock, predicting big market share gains for its server chips over the next two years. “We find it increasingly harder

Check out the companies making headlines after the bell: Tesla‘s stock rose more than 3 percent during after-hours trading after a CNBC report that the Tesla board plans to tell Elon Musk to recuse himself from a board review of his proposal to take the company private. Sources familiar with the matter said the electric

The boss of influential bond investor Bill Gross told CNBC on Thursday that the billionaire guru “has been wrong and wrong badly” this year. Gross is the portfolio manager of Janus Henderson Global Unconstrained Bond Fund, which suffered more than $200 million in redemptions last month, according to Bloomberg, lowering assets to $1.25 billion from

CEO Elon Musk has done a big disservice to investors if he actually does not have certain funding to take Tesla private, said Tom Farley, former president of the New York Stock Exchange. “It’s incumbent upon Elon Musk to actually share that with the public because if it’s not accurate I feel bad for the

Tesla’s big stock rally after a tweet from CEO Elon Musk that said he is considering taking the company private put an important convertible bond above its conversion price, potentially easing financial pressure on the carmaker. On Tuesday, Tesla shares surged 11 percent after a tweet from Musk’s verified Twitter account that mentioned taking the

Check out the companies making headlines after the bell: Snap stock rose as much as 11 percent in the extended session after reporting a smaller-than-expected loss of 14 cents per share for the second quarter, 3 cents less than the 17 cent loss per share expected by Wall Street. It also reported revenue for the

There are two trillion-dollar markets that are great new business opportunities for Amazon, according to D.A. Davidson. The firm reiterated its buy rating for Amazon shares, saying the e-commerce giant should enter the travel and gas station markets. “Based on our estimates, Amazon is currently pursuing 8 of 10 market opportunities that exceed $1T, globally.

U.S. companies are expected to buy back a record amount of shares this year, but that may not necessarily be good news for the market, strategist John Blank told CNBC on Monday. According to a Goldman Sachs analysis, corporate buybacks appear poised to reach the $1 trillion mark this year. “There’s a riddle in play

While few European states can pretend to share Germany’s distinction of being a “country of poets and thinkers,” none can rival German abilities to extract so much wealth from the rest of the European Union. Last year, Germany posted a 159.3 billion euro surplus on its goods trade with other countries in the EU —